chemical bank new york trust company transfer agent

The $1.1 billion transaction represented the largest interstate banking merger in U.S. history to that time. China. AST was originally founded as a transfer . For over 45 years, businesses have partnered with AST for critical stock transfer agent services and strategic direction for corporate growth and shareholder engagement. Chemical Bank New York Trust Company /Chemical Bank filed as a Foreign Corporate Fiduciary in the State of Texas on Monday, March 5, 1962 and is approximately sixty-one years old, as recorded in documents filed with Texas Secretary of State. [70] Eventually Chemical discontinued its efforts in 1989 at a loss of nearly $30 million.[71][72]. Texas Commerce was one of the largest bank holding companies in the Southwest, had the largest affiliate system in Texas, and was certainly the best capitalized of the major Texas banks. www.globextransfer.com, Hampton Technologies LLC the company and chemical bank . Use our helpful glossary. By the early 1870s, Chemical had accumulated deposits in excess of $6 million (equivalent to $129million in 2021). During the Civil War, the country experienced two more recessions, one in 1861 and another in 1863, which were followed by more bank closings. In 1995 Chemical merged with the Chase Manhattan Corporation to form, under the Chase Manhattan name, the largest bank in the United States. [67] However, a year after launching Pronto only 21,000 of Chemical's 1.15 million customers were using the system, in large part due to the high monthly subscription costs that Chemical charged customers to use it. www.stctransfer.com, Spectra Energy Corp. Transfer agent or stock transfer agent is the term used in the United States and Canada. By 1907 the bank had lost its competitive advantage and was losing accounts at a rate of about 100 per year. www.webstocktransfer.com, Wells Fargo Shareowner Services ", The Executive Computer; When Technology Outpaces Needs, "B of A, Chemical, AT&T and Time Plan Home Banking", "Technology: Back to The Velvet-Roped Lines", Funding Universe History of Chemical Bank, Indiana Michigan Power Center (Fort Wayne), https://en.wikipedia.org/w/index.php?title=Chemical_Bank&oldid=1147936665, American companies disestablished in 1996, 1996 disestablishments in New York (state), Short description is different from Wikidata, Wikipedia articles needing clarification from January 2022, Articles with unsourced statements from August 2019, Articles with unsourced statements from October 2020, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 04:04. This largest bank merger in U.S. history to date created the top U.S. bank with assets of $297 billion and a bank with $20 billion in equity to invest, the fourth-largest amount in the world. Chemical Bank was a bank with headquarters in New York City from 1824 until 1996. After the merger, Johnston became Chemical's first chairman and John W. Platten, formerly president of United States Mortgage, replaced him as president. If you are unable to update, you may use the links below to access the most common functionality for ASTs login portals. Choose Your Region or Location. [26][27], Twitchell initiated a major turnaround of Chemical, setting up a trust business and reversing Chemical's policy of not paying interest on cash accounts. Early in 1995 it sold 84 branches in southern and central New Jersey to PNC Bank Corp. for $504 million. In 1992 it decided to abandon that market and sold its upstate branches to Fleet Bank of New York. Issuer Central is an easy-to-use, online platform that delivers powerful analytics and key insights, such as peer and historical trends, as well as reporting capabilities. As Chemical expanded through these mergers, it also suffered aftereffects from the crazed loan environment of the 1980s. In 1975 Chemical acquired Security National Bank, with its large Long Island branch network. By then Chemical had 12 branches in Brooklyn and Manhattan, and in 1929 it opened its first overseas office, in London. ; Herbert K. Twitchell Elected Successor to Joseph B. Martindale, Martindale Short $300,000 as Head of Chemical Bank, Depression-Era Alternatives to the Mattress Stash, The Corn Exchange Bank; A 'Noble Monument to Thrift' With an Unusually Modern Air, "Hulbert Aldrich, 87; Banking Executive Led New York Trust", First Union to Acquire Florida National Bank, Texas Commerce Bancshares Alive and Thriving, Interview with Jeff Walker, Managing Partner of JP Morgan Partners, Chase Capital Partners Is Planning a New Venture Fund, The Bank Merger; Big Bank Merger To Join Chemical, Manufacturers, Banking's New Giant: The Deal; Chase and Chemical Agree to Merge in $10 Billion Deal Creating Largest U.S. Bank, "Chemical Wins Most Top Posts In Chase Merger", Chase and Chemical See Higher Merger Cost, "A New Chase Tries to Lead; Will the Merged Bank Be Greater Than Its Parts? This merger was the first in a series that helped increase the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. In 1996, Chemical acquired Chase Manhattan Corporation in a merger valued at $10 billion to create the largest financial institution in the United States. [28] In 1923, Chemical established its first branch and by the end of the 1920s had opened a dozen branches in Manhattan and Brooklyn as well as a branch in London, its first international presence. [21] While hundreds of banks closed, including 18 banks in New York in a single day, Chemical developed a reputation for stability. The Mason and Jones families would maintain effective control of Chemical for much of its first five decades. SEC rules and regulations are intended to facilitate the prompt and accurate clearance and settlement of securities transactions and that assure the safeguarding of securities and funds. In the face of fierce competition, he made Chemical a major correspondent banker and built it into one of the largest and strongest banks in North America. JPMorgan Chase would return to 277 Park Avenue in 2000, following the departure of its previous tenant, Donaldson Lufkin & Jenrette. Additionally, JPMorgan Chase retains Chemical's pre-1996 stock price history, as well as Chemical's old headquarters at 270 Park Avenue. Copyright (c) 2022 Company-Histories.com. Chemical Bank New York Trust Company, 30 Broad Street, New York, filed a regi~;tration statement (File 2-18289) with the SEC on June 12th seeking registration of American Depositary . At the end of 1995, Chemical was the third-largest bank in the U.S., with about $182.9 billion in assets and more than 39,000 employees around the world. We offer customized solutions and dedicated relationship management teams to meet your unique needs, a consultative approach that guides you on compliance and other risks, stringent controls over data through technical security, innovative tech tools on a customized platform, a staff with decades of experience, and a dedication to building real relationships. Chemical's private equity group for example, was renamed multiple times, ultimately becoming JP Morgan Partners before completing a spin-out from the bank, as CCMP Capital, after the bank's 2004 merger with Bank One. Mason, one of the wealthiest landowners in the city, was also president of the New York Harlem Railroad Company. During the recession of 1857 many banks newly incorporated under the banking act of 1838 were hit hard. In 1831 John Mason was selected to be the bank's second president. In the late 1950s, under Helm (now chairman) and new President Isaac Grainger, Chemical began expanding international operations. Acquisitions continued during this period. www.delawareinvestments.com, Delaware Trust Company and (2) the transfer to Taylor of 50% of the . It is not intended to be, and should not be viewed as, a substitute for reviewing all applicable provisions of the securities acts, the rules promulgated thereunder, and the applicable forms. EARNINGS: Consolidated profits for the year ended December 31, 1962 aggregated $17,664,529, equal, after pre- ferred dividends, to $4.54 a share on the 3,843,612 common shares outstanding at year end, or to $4.92 a share on the shares outstanding at January 31, 1963. In 1971 the company was internally restructured to decentralize the activities of the bank and clearly mark out areas of responsibility. www.secic.com, Securities Transfer Corporation In 1853 Chemical became a founding member of the New York Clearing House, an association of banks formed to help members clear banking transactions. www.ccofva.com, Continental Stock Transfer & Trust Co. After 1968, the bank operated as the primary subsidiary of a bank holding company that was eventually renamed Chemical Banking Corporation. When a speculative bubble collapsed on May 10, 1837, banks suspended payment of gold and silver specie. Also in 1929, Johnston established two affiliates. Isaac Jones, third president of Chemical Bank (18391844). www.jerseytransfer.com, John Hancock Signature Services Williams. Comprehensive case management, consulting and communications for class actions. Retrieved on 2007-11-08 from, "Chemical Banking Corp. SEC Form 10-K Annual Report for the Year Ended December 31, 1995", "Chemical Financial Corporation and TCF Financial Corporation Close Merger of Equals to Become the New TCF", "Plan $2,500,000 Building at Broadway and Chambers", "Donald C. Platten, Ex-Chairman Of Chemical Bank, Is Dead at 72", "Chase Says It Has Deal for Park Avenue Spot", "JPMorgan weighs shifting thousands of jobs out of New York area", "Plans for JPMorgan Chase's NYC 'all-electric' skyscraper unveiled CNN Style", http://www.scripophily.net/chemnatbanof.html, "Chemical National Bank of New York to Pay Interest on Deposits", "Bank 100 Years Old Today. His strategy was not to build a large network of international branches, which would make the company vulnerable to fluctuations in foreign economies, but to concentrate on establishing branches in key international money centers. www.stocktracksoftware.com, First American Stock Transfer, Inc. First the bank stopped losing customers, then, between September and December 1917, deposits rose from $35 million to $63 million. Balthazar P. "Baltus" Melick, founder and first president of Chemical Bank (18241831). Information about transfer agent registration, inspections, and rules can be found below. www.islandstocktransfer.com, Jersey Stock Transfer LLC [55], In 1996, Chemical acquired Chase Manhattan Corporation in a merger valued at $10 billion to create the largest financial institution in the United States. www.amstock.com, Ascensus College Savings Recordkeeping Services, LLC With AST on your team, you can be confident of streamlined efficiency and steady, forward progress. learn how over 7,000 companies got started! . During the early 1930s, when about 8,000 banks failed and many others struggled to remain solvent, Chemical Bank's deposits actually rose by 40 percent. Transfer Agency & Registrar Services At AST, we serve as your strategic partner, adding value through high-level consultative services and integrated execution of stock transfer agent services including complete share registry management, compliance risk reduction, and shareholder engagement. www.franklintempleton.com, Globex Transfer, LLC They formed a bank holding company, Chemical New York Corporation, to facilitate expansion into other financial areas. [13] Mason was responsible for establishing the highly conservative business culture of the young bank that would persist for nearly 90 years. [54] Chemical adopted Manufacturers Hanover's logo design and moved into its headquarters at 270 Park Avenue in New York. [35] Following the merger, the bank dropped the usage of the "corn exchange" from the corporate name to become the Chemical Bank New York Trust Company. From 1972 through 1977 Chemical again experienced a period of consistent growth. For more information please see release number 34-54864. In 1993 Chemical had received permission from the Federal Reserve to underwrite corporate bonds, and the bank aimed to become a major underwriter of below-investment-grade debt within a few years. Chemical frequently used the refrain "Good as gold then, good as gold today" in advertisements from the 1860s well into the 20th century. Chemical's chairman and CEO, Walter V. Shipley, engineered just such a move with the 1991 merger of Chemical with Manufacturers Hanover Corp. Called the first major bank merger among equals and the biggest bank merger in U.S. history to date, it brought together the nation's sixth- and ninth-largest banks into what became the nation's second-largest bank, behind only Citicorp, with assets of $135 billion. In 1923 Chemical established its first branch bank. Late in the decade Chemical was hit hard in loan losses from Third World borrowers, especially Argentina and Brazil. "[64] Chemical's ATM, initially known as a Docuteller, was designed by Donald Wetzel and his company Docutel. This article is about the former bank headquartered in New York City. [24], In 1917, Chemical named a new president of the bank, Herbert Twitchell,[25] after the death of Joseph B. Martindale. John Mason, early shareholder and second president of Chemical Bank (18311839). The following is a brief overview of the transfer agent registration process and the annual reporting requirement for registered transfer agents. We look forward to meeting you, and to working together. The company's charter prohibits banking activities but a year later the company secures an amendment enabling it to establish a banking subsidiary called The Chemical Bank. In those days, the legislature was hostile to banks, and obtaining a state charter could be difficult. This check was to be paid for by the delivery of various securities from Chemical Bank New York Trust Company to Irving Trust Company. Chemical grew rapidly under Williams's leadership during the turbulent decades at the end of the century. Unlike many of its peers, Chemical had been reluctant to expand into securities and other businesses and had not paid interest on bank accounts. Issuing & Paying Agent Registrar & Transfer Agent . By the late 1980s, Chemical developed its reputation for financing buyouts, building a syndicated leveraged finance business and related advisory businesses under the auspices of pioneering investment banker, Jimmy Lee. The early 1870s, Chemical had 12 branches in southern and central Jersey. Paid for by the early 1870s, Chemical had accumulated deposits in excess of $ 6 million equivalent. Atm, initially known as a Docuteller, was designed by Donald Wetzel and his Docutel... 1972 through 1977 Chemical again experienced a period of consistent growth suspended payment of and! Incorporated under the banking act of 1838 were hit hard in loan losses from World... 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